@MMCMAR , while I am not familiar with the details of such schemes, what I get from spending a little time on the web ( UK govt statement, Wikipedia etc. ), it looks very similar in character to US IRA ( including self-directed IRA -- SIPP in the UK ).
My impression on reading all I could find on the subject suggests that
(1) one cannot transfer the UK IRA-equivalent to a US IRA.
(2)So given all of the above I do not find anything that says you must "Crystalize" just because you are in the USA just that there is a age limit of 75 ( similar to the US at 70 1/2 ).
(3) In any case you will be taxed by the USA ( and possibly by the UK ) on any distribution that is beyond your basis in the account
4. there is no FICA or the 10% penalty for early withdrawal by the USA - because you did not get any US tax advantaged treatment during contribution
5. there are quite a few firms that deal with these UK pension schemes fro UK expats or US citizens whom earned this while on the UK.
Please consult with some of these firms and/or UK Inland Revenue ( I suspect UK consulates in the USA may be able to help ) for information. In the worst case, you surrender the policy , take total distribution and pay the US taxes on your world income -- this may have very serious tax consequences. Therefore I again suggest , please consult with tax professional familiar with such issues.
